One of Canada’s largest private lenders is looking to sell as much as 11 per cent of its loans to help ride out the coronavirus crisis.
“We are selling some loans at par value to improve liquidity,” Sharpe said. “We are doing it in a prudent fashion, as we need to keep cash on hand for the revolvers and for foreign-exchange effects, and once we are comfortable with our liquidity, we will lift the gating of the funds.” The pandemic, which forced the shutdown of many smaller businesses the sector typically lends to, is a major test for the asset class. The market has swelled to about US$820 billion globally from US$200 billion before the 2008 financial crisis. It’s likely to see consolidation as some lenders forced to contend with problem loans, and less well-positioned firms struggle with portfolios or lack of scale.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Only one third of B.C.’s students return to the classroom, despite assurancesAccording to education ministry data, 10 per cent of teachers have been excused from in-person classes because of COVID-19 GlobeBC Why bother going back to school for a month that barely counts anyway.
Source: globeandmail - 🏆 5. / 92 Read more »
'One of the most dangerous jobs in the world': COVID-19 kills more than 600 nursesMore than 600 nurses around the world have died from COVID-19 and approximately 230,000 health-care workers have contracted the virus, according to the International Council of Nurses. 600?! On how many millions of them?! FakeNewsAlert Bunch of mindless sheep
Source: CTVNews - 🏆 1. / 99 Read more »
Mexico reports spike of 1,092 coronavirus deaths in one dayNew number was more than twice as high as previous record The president is off his rocker, the government is trying to hide the real numbers, hospitals are primative and way under-funded and the general populace has a low level of education and doesn't seem to give a crap. This hellride is just starting. Dr. Luc Montagnier reveals how Covid-19 is a lab accident. He was awarded the 2008 Nobel Prize in Medicine for the identification of AIDS.He currently works at University in China. The characteristics of the new coronavirus could not have arisen naturally
Source: globeandmail - 🏆 5. / 92 Read more »
Mexico reports new one-day high of 1,092 coronavirus deathsThe coronavirus toll in Mexico has soared to a new daily high, with the health department reporting 1,092 test-confirmed deaths.
Source: CTVNews - 🏆 1. / 99 Read more »
At least one dead, three wounded after bomb explodes inside Kabul mosque: officialA spokesman for the Afghan Interior Ministry said the bomb targeted the Wazir Akber Khan Mosque at around 7:25 p.m., when worshipers had gathered for evening prayers Inside the mosque? Killing their own people?
Source: globeandmail - 🏆 5. / 92 Read more »
ZoomInfo looks to price IPO above target in 2020’s largest U.S. tech listing so farZoomInfo looks to price IPO above target in 2020’s largest U.S. tech listing so far GlobeInvestor
Source: globeandmail - 🏆 5. / 92 Read more »